Google And KKR Complete Project Financing for the
Acquisition of Solar PV Power Portfolio from Recurrent
Energy - Deal Analysis from GlobalData
Reference Code: GDAE0118M&A Publication Date: January 2012
1 Table of Contents
1 Table of Contents.................................................................1
1.1 List of Tables .................................................................1
2 Summary .............................................................................2
3 Google and KKR Complete Project Financing for the
Acquisition of Solar PV Power Portfolio from Recurrent
Energy .................................................................................2
3.1 Deal Overview ...............................................................2
3.2 Deal in Brief ...................................................................2
3.3 Comparable Deals.........................................................2
3.4 Features of Solar PV Power Portfolio From Recurrent
Energy ...........................................................................2
3.5 Key Drivers of the Deal .................................................3
3.6 About the Companies ....................................................3
3.6.1 Google Inc. ...........................................................3
3.6.2 KKR & Co. (Guernsey) L.P...................................3
3.6.3 Recurrent Energy .................................................3
4 Appendix ..............................................................................4
4.1 Abbreviations.................................................................4
4.2 Methodology ..................................................................4
4.2.1 Coverage..............................................................4
4.2.2 Secondary Research ............................................4
4.2.3 Primary Research ................................................4
4.2.4 Modeling and Forecasting ....................................4
4.3 Contact Us.....................................................................4
4.4 Disclaimer......................................................................5
1.1 List of Tables
Table 1: Comparable Deals ....................................................2
Table 2: Abbreviations ............................................................4
GDAE0118M&A / JAN 2012/
Google And KKR Complete Project Financing For The Acquisition Of Solar Page 1
PV Power Portfolio From Recurrent Energy © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form
transaction provides an example of the direction solar is headed
as a viable, mainstream part of our energy economy."
2 Summary
Axel Martinez, assistant treasurer of Google, said, "Google's
Google Inc, the internet search company, and Kohlberg Kravis commitment to clean energy continues to be a core value for
Roberts & Co. L.P. (KKR), a global investment firm, completed the company. Over the past 18 months, Google has made
project financing for the acquisition of four ground-mounted investments in the sector that not only help deploy hundreds of
solar photovoltaic (PV) power projects from Recurrent Energy in Megawatts of sustainable power, but also enable new and
Sacramento Municipal Utility District, California, in theUS. exciting business opportunities. We're excited to be supporting
The projects will be constructed at locations near Galt and Elk KKR's entrance into the renewable energy sector in the US We
Grove in California. hope the sector continues to attract new sources of capital."
3 Google and KKR Complete Project 3.3 Comparable Deals
Financing for the Acquisition of Solar
Table 1: Comparable Deals
PV Power Portfolio from Recurrent
Announced Deal Value
Energy Date
Headline
($m)
3.1 Deal Overview